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Cracking the Code of Customer Loyalty in 2024 Means Prioritizing Customer Lifetime Value Over Speed

Retail TouchPoints

For VCs backing ecommerce upstarts, exponential growth and expansion often focuses on speed and a “growth at any price” mindset. On the other hand, traditional retailers must reinvent their playbook to keep up with a customer experience driven by tech that evolves quickly enough to meet consumers’ rising expectations.

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How Ecommerce Discounts Hurt Customer Loyalty

Optimizely

People choose to shop with Amazon because of the competitive prices, wide selection of products, familiar (and trusted) brand name, and an impressive range of delivery options. You’ll never be able to compete with Amazon because all of this is incredibly expensive! Build trust with your customers in every interaction.

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4 Ways Businesses Can Use Shipping to Reduce Cart Abandonment

Retail TouchPoints

The list goes on, but one other barrier to purchasing seems to be a major sticking point for 63% of consumers : shipping costs. The True Cost of Shipping. When NuFACE implemented a free-shipping threshold, the skin care company saw orders increase by 90%. Negotiate shipping rates.

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7 Targeted Retail Strategies for Revenue Growth and Margin Improvement

Retail TouchPoints

In today’s challenging business landscape, where profit margins are shrinking, supply chains are slow and uncertain, labor shortages are prevalent and inflation is a concern, it is crucial for retailers and brands to differentiate between understanding customer habits and fostering customer loyalty in order to succeed.

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Forrester: Seek New Revenue Sources to Avoid Commodity Price Wars

Retail TouchPoints

Retailers need to readjust their strategies business-wide as they prepare to meet empowered customers who have more choices than ever in a tough economy that’s giving them more reasons than ever to seek out the best price — wherever it may be. The result? Marketplaces Forcing Retailers to Get Unique.

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Customer Loyalty Programs in Retail

365 Retail

In such a landscape, building strong customer loyalty is a necessity for retail businesses, and one of the most effective tactics they should have in their marketing toolkit is loyalty programs. What is a customer loyalty program? Both brands are incredible case studies when it comes to fostering customer loyalty.

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Study: Why AOV Has Ousted CLV as Ecommerce Executives’ Most Valuable Metric

Retail TouchPoints

95% of Executives Want to Prioritize Cost Optimization. Last year, cost optimization didn’t even make it into the top three investment priorities of ecommerce executives, but in this year’s survey it ranked at #1, with 95% of respondents calling it a priority and 61% giving it high priority status.

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